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Pressconference

Hyundai America CEO John Krafcik delivered a keynote address at the opening of the Chicago Auto Show media preview where he called on the industry to dramatically change the way it does business. According to Krafcik, for decades, extravagance has been the name of the game in the car biz – just as it has been in most of corporate America. In the past six months, however, things have started to change, with automakers cutting back on the overblown productions at auto show press conferences

General Motors' ongoing financial problems mean that the company Gulfstream won't be shuttling executives to the LA Auto Show next week. After canceling plans to unveil the new Buick LaCrosse and the production version of the Cadillac CTS coupe, it became clear that there really wasn't anything else to discuss in LA. As a result, there won't be a GM press conference at the show.

General Motors honcho, Rick Wagoner, is holding a 9AM (EST) news conference tomorrow at which he will make an announcement (or announcements?) on what changes the automaker will make as it adjusts to current market conditions. GM's press release has no details beyond that. So, what are we going to hear? The fact that GM is being so nebulous leads us to believe that this will be a significant announcement. Is a brand getting killed? Could we hear of a particular vehicle line getting scrapped? Are